Not Much Future in J.C. Penney's Past

4/17/2013 10:57AM

Like an old sentimentalist, J.C. Penney apparently sees its past as rosier than it really was. Oddly, that could actually boost its stock price—at least until the future intervenes. Justin Lahart reports.

This transcript has been automatically generated and may not be 100% accurate.

... I J C Penney the tribal back to the future and the more oil from now it all back to the back ... after the fast ... will ... work for them also one ... where the company just in labor who wrote a hurdle in her on the Street ... piece on this one ... his company man was ... one of the doing ... just awarded the doing ... will it right so in that rival Apple Ruthie out on the hike at the new things that didn't really work Ron Johnson to ... now they're gone back to it ... didn't work also ... yet mean this this that did the concern is is that you know to try to stabilize what's going on there so you Ron Johnson the former CEO of course the ... be all kinds of things to try and fix this company right Frank as it was considered ... broken before move right in part the promise there's lots lots of discounting that was confusing and also just are to be people think that is in L a ... Icahn replace it ... ALM that this stores look pretty dowdy of on and on a not so hidden ... all kinds of things in either the wallet once in diet and workout the inquiry were ... right yes ... right in saying no ... in order to stabilize sales with that that the new CEO is ... also a former CEO I Michael Lind is given the people think that you know the good of the greenback to scanning and its devotees from a higher low discounting that they did before where you put ... a face high price on something in a new cut down on me you know you try this or will people think in the top fifty percent off ... aam ... okay that's great ... did more before while it worked now Yeh that's it that's it that's a pretty good question ... and here's the Indian shares the concern for the company has ... a lot less catchy now than it did before on at the end of the of last quarter and was down to the ... nine hundred and thirty million which was less than half of what and how it happened ... um two years before ... on the and also some of that was already owed to it to vendors and break ... with the looks like there are really waiting for cash pretty quickly ... this quarter in which is why they tap their credit facility ... so ... don't have a lot of financial wiggle room in there actually get there probably didn't need a cash ... infusion ... right Rees equity that something like that ... so that they can we start to the scan engine ... which is of course given the ... crate even more Proms the right way ... so ... you know that ... I think for for investors to mean the sort of a tree here right because if we do see why sales units of the boar think really thinking you know this thing is giving no wonder you stabilize sales amendment people take a flyer I in in in in in in in in in an ... deal which would be great for the share price and you know to go up for a deal Thermo from here but then you're sort of you know if they succeed in that vein Europe the ... now what now walk right so bottom line is on for Chile crystal balls come cloudy for J C Penney ... Justin Langer think you're a much appreciated ...